Op risk capital charges to apply in expanded European Union

BRUSSELS -- The terms of the European Union’s proposed new capital adequacy rules for banks and investment firms will apply to all member countries of an expanded EU, officials with the European Commission, the EU’s ruling body, said in November.

They were commenting on the view expressed by the Commission in mid-November that up to 10 countries could join the EU as early as 2004 in a ‘big bang’ enlargement of the current 15-nation union.

The EU’s third capital adequacy directive (CAD 3), which is

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